Pratibha Industries subsidiary secures contract worth Rs.805 million

Pratibha Industries Ltd has announced that Pratibha Infrastructure Pvt. Ltd. (a wholly-owned subsidiary of the Company) has secured a contract from Asian Healthcare Services Ltd for construction of Multi-Speciality Hospital Building at Worli. The value of the contract is Rs 805 million. The project is to be executed in eighteen months.

The project involves "construction of a building consisting of two-level basement, two towers of 18 and 23 stories in steel structure, encasing steel structure in cement etc".

The Company is engaged in infrastructure business with key focus on water segment. As the Company moves ahead, the Company has laid increased emphasis on devising its business strategy on aggressive top line growth, a de-risked business model and increased operational efficiencies. Pratibha Infrastructure Pvt. Ltd. (a wholly-owned subsidiary of the Company) proposes to exploit the opportunity available in urban infrastructure.

The stock was trading at Rs.205, up by Rs.6.20 or 3.12%. The stock hit an intraday high of Rs.208.70 and low of Rs.203.05. The total traded quantity was 128283 compared to 2 week average of 117479.

Source : Equity Bulls

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